Global Payments (GPN) has closed on its deal to acquire Ezidebit. The integrated payments company focuses on recurring payments verticals in Australia and New Zealand. GPN paid US$268 million for the Company.
The seventh largest non-bank merchant acquirer in the U.S. has been sold for $1.5 billion. The deal generated a net profit of $700 million for the owners.
Over the past five years global debit payment volume posted a 14% CAGR (Compound Annual Growth Rate), compared to a CAGR of 7% for global credit payment volume. A new report suggests the economic downturn along with the previously unbanked population contributed to the disparity.
September consumer spending slightly declined sequentially. The reduced demand for fall merchandise and unseasonably warm weather may have contributed to the slowdown.
Citibank’s U.S. bank credit card profits rose 17% year-on-year (Y/Y) and retail credit card profits rose 15% Y/Y in the third quarter of 2014 (Q3/14). End of Period (EOP) bank credit card outstandings declined 3% Y/Y, while purchase dollar volume (PDV) rose 4% Y/Y.
Chase reported another strong quarter of bank credit card purchase dollar volume (PDV) in the third quarter (Q3/14). Charge-offs declined significantly from prior quarters. Despite the strong PDV, credit card outstandings remained soft, reflecting the shift to increased transactional use of bank credit cards.
CardWeb.com’s CardPixes database of more than 7,000 card images today features the Sony Playstation Visa. The card is issued by Capital One.
CardWeb.com’s CardWatch database of more than 57,000 marketing items included direct mail, print ads, TV ads, etc. today features the Fidelity Investments Premium American Express TV ad.
Palo Alto, CA-based WePay has introduced WePay Clear which provides platforms ” crowdfunding sites, online marketplaces, and business software ” with all of the tools they need to enable their users to accept payments, including merchant onboarding, credit card processing, and payouts.
NY-based The Small Business Authority, (not a part of or endorsed by the U.S. Small Business Administration), is offering the American Express Full Acquiring Program to its small business customers and sales channels via its merchant processing segment, Newtek Merchant Solutions.
VA-based Phoenix Managed Networks has completed the deployment of VeriFone’s next-generation IntelliNAC i6 network access controller to Phoenix’s PCI compliant transactions network. IntelliNAC has been certified by select payment processors on the Phoenix network and is now processing nearly one hundred million transactions a month.
While a data breach can be costly to financial institutions it also represents a silver lining for card manufacturing. As a result, instant issuance solutions are taking off.